KARACHI: Pakistan Mercantile Exchange (PMEX), the country’s only multi-commodity futures exchange, in collaboration with GROWTECH Services, Naymat Collateral Management Company Limited (NCMCL), HBL, and Bank of Punjab, held an awareness program about Electronic Warehouse Receipts (EWR) mechanism for farmers in Hafizabad.

The aim of the awareness programmes was to educate farmers about the EWR mechanism and its benefits including safekeeping, financing, and trading.

A large number of bankers, warehouse operators, and more than 400 farmers attended the programme.

During the session, NCMCL briefed the audience about the safekeeping of commodities to avoid distress selling and post-harvest losses. HBL and the Bank of Punjab elaborated on using EWR as collateral for borrowing from financial institutions.

PMEX talked about the trading of EWRs at its platform and elaborated the benefits to the farmers such as the fair price of produce and payment within 48 hours.

Copyright Business Recorder, 2023